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Coinbase Pro announces support for Chainlink tokens



According to a June 26 blog post, Coinbase Pro has added support for Chainlink.

Coinbase has listed two trading partners for the intelligent contract platform token link (LINK) on its professional trading platform. [19659002] LINK will be available for US $ (LINK / USD) and Ether (ETH) (LINK / ETH) trading. The post said the token will be available in all covered jurisdictions except the state of New York.

According to the announcement, Coinbase Pro will provide LINK options in four steps. The four steps are (1) transfer only, (2) post-mail only, (3) limit only, and (4) full trade. For the first three options, users can enter LINK in their Coinbase Pro accounts, place orders, and wait for matches.

The announcement also states that live updates will be announced via Twitter. At the time of printing, Coinbase Pro announced the beginning of the transfer-only phase .

According to the press release, LINK is an ERC-20 token intended for the Oracle Chainlink Distributed Network. According to Chainlink's white paper, LINK is the token used for payments in Chainlink-secured Ethereum Smart contracts:

"For a Smart contract in networks such as Ethereum to use a ChainLink node, it must have the ChainLink it chooses Node operators pay for use of LINK tokens, with prices set by the node operator based on the demand for the off-chain resource provided by ChainLink and the provision of other similar resources. "

The Chainlink network reportedly supports Ethereum's intelligent contracts based on input from external data sources, APIs, and payment systems. The Chainlink website states:

"By allowing multiple chain links to evaluate the same data before they become the trigger, we eliminate one point of failure and get the total value of a smart contract that is very secure, reliable, and trustworthy. "

As reported by Cointelegraph, Coinbase Pro increased its fees and announced a different market structure for the platform in March.


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